Ghanaian journalist, Bridget Otoo, has sounded the alarm on the fluctuating exchange rates of the Ghana Cedi against major international currencies.
In a post she shared on Twitter, she advised citizens to pay attention to the downward trend of the Cedi’s value rather than being swayed by government distractions.
Her warning comes at a time when recent shifts in the interbank forex rates highlight potential implications for individuals and the broader economy.
“When this government asks you to look up, please look down. Cos if you sold your dollar @ 10 cedis just 5 days ago the Dollar is back at 11 and climbing …They will come and shout again listen to them and lose,” she said.
In a ghanaweb.com report, the Bank of Ghana’s interbank forex rates for May 23, 2023, revealed that the Ghana Cedi is currently trading against the US Dollar at a buying price of 10.7824 and a selling price of 10.7932.
However, at a Forex bureau in Accra, the rates differ slightly, with the dollar being bought at 10.40 and sold at 11.20.
This significant variance between official interbank rates and those offered by forex bureaus emphasizes the need for vigilance when engaging in currency exchanges.
When this government asks you to look up, please look down.
Source: Ghana Web
